A new study has been published to show the required investments needed to scale-up biomethane and hydrogen to assist the transition towards the lowest cost climate neutral system by 2050.
Gas Decarbonisation Pathway 2020-2050, published by the Gas for Climate consortium, suggests that addition EU climate and energy policies are needed to position Europe on the road to net zero by 2050.
It’s central and aspirations Accelerated Decarbonisation Pathway examines which investments and innovations have to take place in order to achieve a 2030 greenhouse gas reduction target -55%, and climate neutrality by 2050.
According to the study, the European Green Deal can facilitate such developments by:
1. Fostering cross-border trade and transport of hydrogen and biomethane and clarifying market rules for green and blue hydrogen, including hydrogen for transport.
2. Stimulating the production of biomethane and hydrogen by binding mandate for 10% gas from renewable sources by 2030.
3. Incentivising demand for hydrogen and biomethane by strengthening and broadening the EU Emission Trading System combined with targeted and time-bound Contracts for Difference.
4. Adapting the EU regulatory framework to make gas infrastructure future proof in an integrated energy system.
“In this time of unprecedented public health challenges and economic pressure, climate change mitigation and economic recovery must go hand in hand,” said the CEOs of the Gas for Climate members.
“In the aftermath of the current health crisis, the required EU and national stimulus packages should also be seen as a three-fold opportunity for Europe. Beyond creating economic growth, stimulus packages can drive forward the energy transition and creat sustainable jobs.”
“Our new study offers a pathway towards cost-effect and resilient energy system integration. We support the transition to a fully renewable energy system in which biomethane and green hydrogen play a major role in a smart combination with renewable electricity and Europe’s well-developed existing infrastructure.”
“We also recognise that blue hydrogen can accelerate decarbonisation efforts and highlight the ability of biomethane combined with CCS to create negative emissions.”